I love taxation to much, I also did self study for CA IPC Taxation for May 2013 and scored 70.
I have read about every book written on taxation for CA IPCC students.
My books collection include VK Singhania (also recommended by ICAI), TN Manoharan (Former President of ICAI, recommended by ICAI), Girish Ahuja (Recommended by ICAI), MK Gupta (famous teacher in Delhi) and Ajay Jain (popular teacher in Delhi).
VK Singhania (VKS) -
1. My all views on VKS is only for Income Tax because ST and VAT are not written by him.
2. First Book I bought for CA IPC Exams. After seeing this book, honestly I fell in love with CA IPC Tax.
3. Contains everything that you want to know about tax. No one in world can say that this topic is relevant for CA IPC Tax Exam but not included in VKS.
4. Let me make you very clear, VKS is father of all the modern authors in my opinion. All authors have developed their books from his book. No one has guts to challenge his book. Today there are many big CAs, Teachers and Authors who studied from his book.
5. But it's a very giant book, fonts are so small. Even there are certain summaries like for Deductions in Capital Gain which are very much small in size. This book is boring for those who still love colorful books.
6. Even if you complete 60% practical questions from each chapter you 100% prepared for Income Tax.
7. It is difficult to revise this book. So my suggestion would be to prepare notes.
8. It is totally student friendly because it contains lots of practical question on each provision. So there is very less chance of any doubt in Income Tax.
9. Theory chapters are not so good in his book. Like Income Tax Return, TDS, Advance Tax, AMT, Clubbing, Set off etc.
10. If you want good career in taxation, my strong recommendation for this book.
TN Manoharan (TNM)-
1. I felt it is completely exam oriented.
2. I does not find anything extra ordinary in this book. Book size is normal, fonts are normal, printing quality is not so boring.
3. Does not cover even 50% question of VKS. But questions in this book are sufficient for exams.
4, But I felt for Self Study it is not a very good.
5. Many students and experts say it's best for exam, but I think you can't undrestand properly taxation from this book.
6. Income Tax is Good, VAT and ST are OK OK not so good.
7. But it also covers 100% syllabus. Nothing is missing in this book.
Girish Ahuja-
1. Good for exams + understanding purpose.
2. I think, he knows what a student wants in a book. Book size is medium, fonts are ok, printing quality is good.
3. Use of Bold words and other printing features help student to differentiate what is important for exams and what is not.
4. Contains good no. of question.
5. Income Tax is Good, VAT is also Good But ST is Execellent in this book.
6. It is best book to understand ST properly.
7. It is easy to revise this book during exam easily.
8. No negative comments, to gain not so good but ok knowledge in taxation.
MK Gupta (MKG)-
1. Best for understanding IT and VAT. Ok Ok for ST.
2. I found this book most useful to understand practical chapters like House Property, Capital Gain and Other Sources.
3. It has 150 pages for VAT which is I think largest book on VAT for CA IPC Tax. Seriously awesome book for VAT.
4. If you really want to know VAT must see his book.
5. Many students say MKG is not good in teaching VAT and ST but according to me his book for VAT is best.
6. Best part of his books. They contain Past Year Questions in a very good sequence (ie. chapter wise and year wise). Book also contain Bare Act to understand Tax more practically. there are many problems at end of every chapter which are best to understand the chapters.
7. Another best part of his books, they contain illustrations on each provision and in a very simple lanugage with comparative analysis. It means many times students have confusion like what will happen if this is that and that is this. It also answer such question by giving 3-4 examples on each provision.
8. Printing quality is best, font size is best, size of books are small because they have divided there books in 6 parts so does not create any psycological pressure on students.
9. Negative Comments -- Not good for ST, Not good to practice exam oriented question. I don't you will get even 80% confiedence even if you complete all questions in the books.
10. Best thing you can dowload his books for free from :
Ajay Jain -
1. Very popular for his Taxation classes among students.
2. He has authored summarised book for Taxation.
3. Absolutely his books are not recommended for self study.
4. But his books are 100% exam oriented, book contains limited provision.
5. He has not covered many provisions in his book but still covers whole syllabus for exam purpose. My friend told me that Ajay Jain Sir use to say in his classes "mene book mein sirf mallaai daali hai"
6. I love his VAT and ST books. I don't think anyone else can make these two portions so easy and concised still best for exam.
7. I would recommend you to use only his book for ST and VAT for Exam not for understanding purpose.
8. Negative -- Summarised books so it is impossible to understand Tax from his books.
My personal experience:
Income Tax
- For understanding purpose refer any book except Ajay Jain, I found MK Gupta book best for understanding.
- For practicals only VKS. Even if you do 60% questions from each chapter you are 100% prepared for exams.
Service Tax and VAT
- Only Ajay Jain Book, sufficient for exam purpose.
- For Understanding Purpose refer MK Gupta Book for VAT and Girish Ahuja for Service Tax.
I know it is not possible for everyone to purchase all the books. So which should you purchase.
VKS - Income Tax
Ajay Jain - ST and VAT
https://www.mkgeducation.com/ in case you feel any difficulty download free books from his website for refrence purpose.
Last tip for beginners,
1. Start with Income Tax, Basics and then residential status.
2. Do House Property, then Salary Head, then PGBP, then Capital Gain and then Other Sources.
3. Deduction of Chapter VI A
4. Do Clubbing and Set off chapters.
5. Advance Tax and TDS.
6. Now do Agricultural Income, Trust, Exemptions, AMT.
7. Practice Total Income Questions.
8. Do Income Tax Return.
9. Do VAT.
10. Now ST.
Above mentioned article is my personal view and are purely based on my own opinion.
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